Bank Support

How much do you know about your banking services?  To get the advice you need for your banking success, just ask Alex, our expert banker. Learn more about the diverse services offered through your local bank. Find out about wire transfers and how they work. Discover what happens when a check you deposit gets returned.

Question:  What type of products and services do banks provide?  – Roger from Durham, North Carolina.

Answer:  Banks offer a wide variety of products and services to help businesses and individuals manage their finances.  They consist of checking accounts, savings accounts, debit and credit cards, loans, lines of credits, mortgages, merchant services, treasury services, online and mobile banking, bill pay, wealth management, investment services and much more.  Some hidden services that banks might offer include notary services, medallion stamps, faxing and copying documents, selling United States postage stamps, access to credit reports, shredding documents and coin counters.  Not all banks provide the same services, so talk to a banker to see what your bank can do.

Question:  What is the cut off time for wire transfers?  – Seth from Concord New Hampshire.

Answer:  Wire transfers are an electronic way to transfer money from one bank or credit union to another using a network such as Fedwire or SWIFT.  The money generally moves within a day or two, and once it is received the recipient can use the funds immediately.  The cutoff time for wire transfers vary between financial institutions.  For example, Bank of America’s cut off time for both foreign and domestic wire transfers is 5:00 p.m. Eastern Standard Time while Wells Fargo’s cutoff time for domestic wire transfers is 4:30 p.m. Central Standard Time.  If the cutoff time is missed the wire transfer will not be processed until the next business day.

Question:  What happens if a check that I deposit gets returned?  – Lori from Irvine, California.

Answer:  Checks can be returned for several reasons.  The most common reasons include the account having non-sufficient funds, a stop payment was placed, the account is closed, a missing endorsement or signature, and the check is stale or post-dated.  If a check is returned, the bank will reverse the deposit to your account, charge a return check fee, and mail the check back with a notice explaining why it was returned.

Important: For your specific questions about banking, contact your banking expert, Alex, at: alexexpertbanker@gmail.com

Alex is starting his 15th year in the banking industry.  He has worked for such notable banks as Bank of America, US Bank, and Chase.  Alex has his bachelor’s degree in Business Economic from the University of California Riverside.